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    Property profile & analytics

    1487 Boardwalk Lexington, KY 40511-1803

    • Drive through restaurants
    • 2,215 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimation
    $490,000
    Last Sale
    Dec 15, 2020
    $570,000
    Location Intelligence
    Property ID
    US34-0595401
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 1487 Boardwalk

    Year built
    1977
    Lot size
    0.64 lot acres
    Property size
    2,215 SF
    Zone code
    B-6P
    Property type
    Drive through restaurants
    APN
    16696759
    APU
    16696759

    Description

    This exceptional 0.64-acre property in Lexington, Kentucky, presents a prime ground lease opportunity. Located at 1487 Boardwalk, in Fayette County (zip code 40511), this site boasts a 2,215 square foot building, ideal for repurposing or demolition. Its strategic location just off W New Circle Rd provides unparalleled visibility and accessibility, situated adjacent to a Walmart Supercenter and Lexmark's World Headquarters. The property benefits from high daily traffic volume generated by nearby retail giants like Ross and Walmart, as well as numerous surrounding office buildings. The B6P zoning allows for a wide range of uses, including a drive-thru restaurant, making it an attractive option for various businesses. The site's existing infrastructure, combined with its prime location within a thriving retail corridor, presents a unique opportunity for significant return on investment. This location is surrounded by established QSRs including Wendy's, Taco Tico, KFC, Arby's, Panda Express, and Dairy Queen, demonstrating the area's strong demand for quick-service restaurants. The property's single-tenant configuration offers flexibility and control. This is a rare chance to acquire a highly visible and accessible site in one of Lexington's busiest retail areas.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $460,000

    • CAP approach

      CAP return
      Estimation
      6%
      $575,000
      6.5%
      $520,000
      7%
      $555,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $535,000
      Geo Method
      $565,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $595,000
      Retail
      $510,000
      Mixed-Use
      $545,000
      Hospitality
      $475,000
      Educational
      $515,000
      Residential Income
      $620,000
      Energy
      $575,000
      Income-Based Land
      $555,000
      Food Service
      $605,000

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.4835
    Latitude
    38.0714
    CBSA code
    30460
    CBSA name
    LEXINGTON-FAYETTE, KY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,049
    $0.00
    $0.00
    $570,000
    -
    $0.00
    $0.00
    $570,000

    Comparable in this City

    • Value Estimation by Request
      3,192 SF

      1499 Boardwalk

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,192 SF
      1499 Boardwalk, Lexington, KY 40511-1803
      View Details
    • Value Estimation by Request
      2,950 SF

      464 New Cir Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,950 SF
      464 New Cir Rd, Lexington, KY 40511-1831
      View Details
    • Value Estimation by Request
      2,900 SF

      506 New Cir Rd

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,900 SF
      506 New Cir Rd, Lexington, KY 40511-1833
      View Details
    • Value Estimation by Request
      1,854 SF

      1483 Boardwalk

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,854 SF
      1483 Boardwalk, Lexington, KY 40511-1803
      View Details
    • Value Estimation by Request
      3,046 SF

      1494 Boardwalk

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,046 SF
      1494 Boardwalk, Lexington, KY 40511-1802
      View Details
    • Value Estimation by Request
      0.69 Acres

      1745 Sharkey Way

      DRIVE-THRU RESTAURANT, FAST FOOD • 0.69 Acres
      1745 Sharkey Way, Lexington, KY 40511-2028
      View Details

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    1487 Boardwalk
    Lexington, KY 40511-1803
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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